Many small companies do not give much thought to business insurance, but this puts them at  risk of a considerable loss in the event of a fire, natural disaster, or lawsuit. Not only should you purchase coverage for your business, but you should also keep the following tips from Dunlap Agency, Inc. of Fairbanks, AK, in mind to ensure you find the right policy for you. 

Here are three guidelines you should follow as you begin to look into business insurance:

• Know What Your Business Insurance Policy Covers: Various policies cover different things. There are a variety of policies to cover anything from death or illness of a partner, to protection against lawsuits, or  even coverage for natural disasters. You may also need to cover business vehicles, buildings, or inventory, so read your policy carefully to make sure you understand what’s covered and what’s not.
• Ensure You Have Enough to Cover Your Assets: Select a policy that has enough coverage for all your business assets, including inventory and products, merchandise, and display materials, any potential loss of revenue, and any outstanding debts. You’ll need to carefully evaluate your business and estimate your income to do this properly. A good agent can help you.
• Consider Income Loss Insurance: Just because a natural disaster doesn’t ruin your building doesn’t mean your business won’t suffer. For example, a water main break on your street could keep your doors closed for a week, resulting in a loss of profits. Coverage for loss of income can mitigate the affect of your downtime, so ask about this important coverage. 

If you are looking to purchase business insurance, Fairbanks’ best insurance agency can help you understand the various policies and find the right coverage to fit your business needs. Call Dunlap Agency, Inc. at (907) 456-5202 or visit their website to learn more today.